Playstation 3 should get to next profit level

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Sony Computer Entertainment Chief Executive Kaz Hirai said the PlayStation 3 gaming console could begin turning a profit as early as the next fiscal year, thanks to declining component costs.

"We want to get to the positive side of the equation as quickly as possible," Hirai told reporters at the Consumer Electronics Show in Las Vegas. While the PlayStation 3 continues to trail Microsoft's Xbox 360 and the Nintendo Wii in sales, a November price drop of the basic PS3 model to $399 helped Sony sell 1.2 million consoles in North America during the fourth quarter 2007 selling season.

Both analysts and Sony executives have recently been touting an influx of upcoming 'must-have' games, most notably Grand Theft Auto 4 and Killzone 2, as reasons the PlayStation 3 should gain market share against its rivals in 2008.